Solar Capital Ltd. (SLRC) Shares Bought by Legal & General Group Plc

Legal & General Group Plc lifted its holdings in shares of Solar Capital Ltd. (NASDAQ:SLRC) by 15.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 124,596 shares of the financial services provider’s stock after acquiring an additional 16,431 shares during the period. Legal & General Group Plc owned 0.29% of Solar Capital worth $2,697,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SLRC. Muzinich & Co. Inc. raised its position in shares of Solar Capital by 20.7% during the 2nd quarter. Muzinich & Co. Inc. now owns 1,888,476 shares of the financial services provider’s stock worth $41,301,000 after acquiring an additional 323,733 shares in the last quarter. Eagle Boston Investment Management Inc. raised its position in shares of Solar Capital by 20.0% during the 3rd quarter. Eagle Boston Investment Management Inc. now owns 426,322 shares of the financial services provider’s stock worth $9,191,000 after acquiring an additional 71,041 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Solar Capital by 179.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 65,839 shares of the financial services provider’s stock worth $1,440,000 after acquiring an additional 42,318 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Solar Capital by 376.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 47,194 shares of the financial services provider’s stock worth $1,021,000 after acquiring an additional 37,280 shares in the last quarter. Finally, Shelton Capital Management raised its position in shares of Solar Capital by 237.8% during the 2nd quarter. Shelton Capital Management now owns 46,169 shares of the financial services provider’s stock worth $1,010,000 after acquiring an additional 32,500 shares in the last quarter. 63.08% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research lowered Solar Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. BidaskClub lowered Solar Capital from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 7th. National Securities reaffirmed a “buy” rating and set a $25.00 price target on shares of Solar Capital in a research report on Wednesday, November 29th. Finally, Ladenburg Thalmann Financial Services raised Solar Capital from a “neutral” rating to a “buy” rating in a research report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $23.35.

Solar Capital Ltd. (NASDAQ:SLRC) opened at $20.09 on Wednesday. The company has a market capitalization of $849.02, a P/E ratio of 11.96, a price-to-earnings-growth ratio of 2.52 and a beta of 0.54. Solar Capital Ltd. has a 12-month low of $19.90 and a 12-month high of $22.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.01 and a current ratio of 1.01.

Solar Capital (NASDAQ:SLRC) last released its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). The firm had revenue of $36.15 million for the quarter, compared to analyst estimates of $35.95 million. Solar Capital had a return on equity of 7.32% and a net margin of 50.29%. equities analysts expect that Solar Capital Ltd. will post 1.6 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Thursday, March 22nd will be given a dividend of $0.41 per share. This is a positive change from Solar Capital’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, March 21st. This represents a $1.64 annualized dividend and a yield of 8.16%. Solar Capital’s payout ratio is 95.24%.

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About Solar Capital

Solar Capital Ltd. is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests in privately held the United States middle market companies.

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Institutional Ownership by Quarter for Solar Capital (NASDAQ:SLRC)

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